ABS

  • STS is burden enough without shoehorning in ESG criteria

    With the environmental, social and governance revolution well under way, attention has turned to the securitization market after recent deals pushed the issue to the top of the agenda. There has been talk of retrofitting the ‘simple, transparent and standardised’ (STS) regulatory framework with a ‘green’ or ‘ESG’ category, but regulators should think twice before conflating both themes.

  • BMW prepares first auto loan ABS of 2020

    BMW prepares first auto loan ABS of 2020

    BMW Automotive Finance is readying a Rmb8bn ($1.15bn) dual-tranche auto loan ABS transaction. The deal, to be sold on February 20, will be the first auto ABS outing in the Chinese market since the Lunar New Year.

  • Swissies on fire as banks max out

    Swissies on fire as banks max out

    BBVA and BNP Paribas raised Swiss franc bonds on Thursday, following a week of strong issuance from a rich variety of borrowers in the market.

  • UK fiscal splurge cemented as ‘last Mohican’ is ousted

    UK fiscal splurge cemented as ‘last Mohican’ is ousted

    The ousting of Sajid Javid as the UK's chancellor of the exchequer has been interpreted in financial markets as a power grab by prime minister Boris Johnson. Javid's removal is likely to strengthen the government’s bias towards populist economics, “rewriting the Treasury’s fiscal rules”, according to one investor.

  • Pass-thrus, investor deals to boost online loan ABS

    Pass-thrus, investor deals to boost online loan ABS

    Issuance of ABS backed by marketplace loans is expected to get a boost this year, supported by a higher volume of pass-through certificates and investor-sponsored deals, according to Kroll Bond Rating Agency.

  • Hewlett Packard returns with IT equipment ABS

    Hewlett Packard returns with IT equipment ABS

    Hewlett Packard Enterprise is readying its second securitization backed by loans and leases secured by IT equipment. Boosted by scarcity value, sources expect the small ticket equipment to offer better value than all other equipment asset classes this year.

  • Sustainability: more stick, less carrot

    Sustainability: more stick, less carrot

    Sustainable finance players are enthusiastic about regulation, which they expect to bring clarity and order to the market. It may — though when the new EU rules are implemented they are likely to irk participants more than they expect. But what would be really effective are direct actions that bypass finance.

  • Pandemic bond slips as coronavirus spreads

    Pandemic bond slips as coronavirus spreads

    The value of the riskier tranche of the World Bank’s pandemic bond has been discounted — but not by very much — as the coronavirus outbreak infects more people outside of China and therefore comes closer to triggering a payout from the notes.

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